Element Trading remains in theft of traders funds, 18 months later!

Discussion in 'Prop Firms' started by Jerry B, Jun 12, 2013.

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  1. Jerry B

    Jerry B

    If you go to the Element Trading web site this is what you'll find. Don't believe a word of it as Element and it's founder Charlie Vaccaro remain in theft of traders funds, myself included, to the tune of $17,000!!!! 18 months ago my account at Element was looted and I am still attempting to have it returned. To put it mildly, my experience with this company and individual has been a nightmare. The SEC, FINRA, as well as the NY District Attorney's office has been notified.
    Try not to laugh in reading the following.....it'd be funny if it wasn't so pathetic.

    Charlie Vaccaro_
    Unveils His Personal Trades Using The FIDO Algorithm_

    $2,922.28 in 7 Trading Days with 100 share lots and a $10,000 account._

    I designed the FIDO algorithm after being disgusted watching traders over ten years lose money. Studying traders results and analyzing where they went wrong always resulted in one simple fact, discipline. I set out to create a system that would monitor a traders every tick and with pre-set limits per trade and per day I developed an algo that eliminates runaway trades while letting your profitable trades run. The proof is in the P&L reports. To prove this system I personally made $2,922.28 in seven trading days with a share lot of 100 shares and a $10,000 account. Join me Monday evening at 7pm and I will show you how you to can get the Element Advantage._
  2. zdreg


    Vaccaro remain in theft of traders funds, myself included, to the tune of $17,000!!!!

    with the comma after included it sounds like he stole a total of $17,000 from all traders. how much was actually stolen in your opinion?
  3. Are you sure you just didn't push the button at the wrong time and lost your $ in the market? If not, why not file a small claims case rather than complaining here? Otherwise, you must be a sore loser or competitor. File the case and post it here,otherwise what's your purpose? The statute of limitations is quickly expiring, you better run!
    PARACLESE likes this.
  4. Jerry B

    Jerry B

    Hey market surfer....are you a shill for element or just an idiot? Sore loser? Hey sport, how would you feel about having $17k looted from your trading acct? What's my point in posting this? How about to warn fellow traders against the perils of dealing with element trading and Charlie vaccaro.
    This is why I hate these boards, having to deal with people like you.
  5. The limits for small claims are much lower, like $1,500. They'll need to go to the big boys court, which means if they win *AND* get their money back, it'll most likely end up in the lawyer's bank account.

    So, the lesson here is - always steal from the poor, because after court costs and lawyer's fees, they'll still have nothing.

    The net result is they will most likely do nothing unless they find a sympathetic ear in a prosecutor's office or the media...

  6. Nope, never heard of them before your post. You state that you and others lost 17k--- small claims can be up to 12k depending on your/.his state.... If your personal losses are above the small claim limit, why not take the guy to regular court? Other than there is more to this than you say. I don't get it.
  7. Wrong. Small claims court can accept up to 12k depending on your state

    This has nothing to do with prosecutors office, it's a civil matter--- It's not expensive to file a lawsuit. Why are you bitching here rather than taking action? Statute is running.
  8. oraclewizard77

    oraclewizard77 Moderator

    It has been posted many times here in ET about a couple of con artists that start new companies after stealing investor funds, so if you see that they are part of management, then don't invest.

    Also, you could have posted here and asked about this company before investing your money.

    Red flags are if they are not based in the United States. If you did not use Google to research the company or the people working for it. If you did not find someone else who uses them and is doing real well.

    I will say something good about Element, they previously hired a trader that was teaching edge based strategies for free so people would think about investing. I never invested since I knew about how the company would just steal your funds, but I did learn something new that still works when you see it. It does not happen every day, but every so often the setup occurs.
  9. do no business with foreign scum

    or local scum for that matter, some of whom used to be foreign scum
  10. Sure you've heard of them! Vaccaro and Velez are two of the most notorious con men in the industry. There have been countless threads on ET about this:

    1) They set up shop and put out plenty of ads with outrageous claims about all the free easy money you can make with their amazing new program.

    2) They get a bunch of marks to deposit their hard earned money.

    3) They steal all the money and run away.

    4) Go to step 1.

    The SEC staff has better things to do than their jobs, after all.
    #10     Jun 12, 2013
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